A lot of people seem to forget you don't actually see the shark until the third act of this Steven Spielberg masterpiece. In 1975, the robotic shark was an impressive piece of movie magic, but now it's hard to even watch it without cracking the slightest smirk. Yet that has nothing to do with why people love Jaws - the suspense of the inevitable is an aspect Spielberg did not create, but mastered in every way with the film.
What would make a Blu-ray release so great is the addition of numerous documentaries and behind-the-scenes interviews about the movie. If you've ever seen Easy Riders, Raging Bulls, you know the fascinating story behind the creation of Jaws and how close it drove Spielberg to the edge. The New England beach town focused in the movie is a good-looking one that could benefit from an upgrade. Most importantly, one of cinema's most recognizable themes would surely sound great mastered using the latest tech.